Hot Research PM

Facebook Searches Itself for Opportunity

Sterne, Agee raised the price target on the social-networking giant.

We believe Facebook's Graph Search will enable it to expand beyond Display Advertising into the much bigger market for Search Advertising.

We felt it was inevitable Facebook (ticker: FB) would get into Search. However, the timing is a bit sooner than we had anticipated. We are reiterating our Buy rating and raising the target price to $37 (from $32),...